PC chip plunge wipes out a quarter of Intel’s value

Intel’s share price sank by almost a quarter on Thursday after the company revealed a deep dip in sales of PC processors. The rout began after the silicon-slinger posted Q3 results that included some nice numbers, such as a 21 percent year on year revenue jump to $16.5 billion, helped by 78 percent growth for datacenter and AI products, and gross margins of 43 percent. The revenue number was at the high end of Intel’s revenue guidance of $15.8-16.8 billion, and the gross margin beat its predicti